Market Roundup
• US Initial Jobless Claims: 229K, 220K forecast, 225K previous.
• Canada Building Permits (MoM) (Apr): -7.6%, -3.7% forecast, 10.5% previous.
• US Core PPI (MoM) (May): 0.4%, 0.5% forecast, 0.7% previous.
• US Continuing Jobless Claims: 1,795K, 1,780K forecast, 1,771K previous.
• US Core PPI (YoY) (May): 4.9%, 5.4% forecast, 4.9% previous.
• US PPI ex. Food/Energy/Transport (MoM) (May): 0.8%, 0.5% previous.
• US PPI (YoY) (May): 6.5%, 6.4% forecast, 5.7% previous.
• US PPI ex. Food/Energy/Transport (YoY) (May): 5.1%, 4.4% previous.
• US Jobless Claims 4-Week Avg.: 219.00K, 214.75K previous.
Looking Ahead Economic Data (GMT)
• 05:30 Japan Industrial Production (Apr): 0.8% forecast, -0.4% previous
•05:30 Japan Capacity Utilization (Apr): -1.2% previous
Looking Ahead Events And Other Releases (GMT
•No Events Ahead
Currency Summaries
EUR/USD : The euro recovered ground on Thursday as dollar fell after President Donald Trump scrapped planned U.S. strikes on Iran, citing regionally backed talks with Tehran, allowing the euro to recover after an expected rate hike by European Central Bank. . The European Central Bank raised interest rates as expected on Thursday, hoping to prevent an Iran war-induced surge in energy prices from broadening out into higher inflation.Surging costs for oil and gas helped push inflation across the 21-nation euro zone above 3% last month, far exceeding the ECB's 2% target, and further increases are almost certain as the conflict lasts longer than most had predicted. The rate hike came as the ECB raised its 2026 inflation projection to 3.0% this year from 2.6% seen in March, and lifted the 2027 outlook to 2.3% from 2.0%.Immediate resistance can be seen at 1.1633(SMA20), an upside break can trigger rise towards 1.1673(50%fib).On the downside, immediate support is seen at 1.1505(61.8%fib), a break below could take the pair towards 1.1481(Lower BB).
GBP/USD: Sterling rebounded against dollar on Thursday after U.S. President Donald Trump said he had canceled planned strikes against Iran and a peace agreement could soon be signed.Hours after threatening more bombings and saying he wanted to "take" oil export hub Kharg Island, Trump announced that talks "have been brought to the highest level of Iranian leadership and approved.The U.S. president said that the United States and Iran could sign a peace deal as soon as this weekend that would reopen shipping traffic through the Strait of Hormuz, a key energy conduit where oil transportation has been disrupted since the start of the war in late February.In energy markets, oil prices quickly turned lower after Trump's announcement but ended above their lows for the session. Immediate resistance can be seen at 1.3463(SMA 20), an upside break can trigger rise towards 1.3526(50%fib).On the downside, immediate support is seen at 1.3317(50%fib), a break below could take the pair towards1.3265(Lower BB).
USD/CAD: The Canadian dollar weakened to a seven-month low against the greenback on Thursday as oil prices fluctuated and the gap between Canadian and U.S. 2-year yields touched its widest in one year. The Canadian 2-year yield fell as much as 131 basis points below the equivalent U.S. rate, marking the largest gap since June 2025, before recovering to about 128 basis points. Investors tend to favor the higher-yielding currency. The price of oil, one of Canada's major exports, gave back its earlier gains to trade 2% lower at $88.21 a barrel after U.S. President Donald Trump said he has canceled strikes against Iran that had been scheduled for later in the evening. The loonie was trading 0.3% lower at 1.3980 per U.S. dollar. Immediate resistance can be seen at 1.3950(23.6% fib), an upside break can trigger rise towards 1.3970(Higher BB).On the downside, immediate support is seen at 1.3857(38.2% fib), a break below could take the pair towards 1.3791(SMA 20).
USD/JPY: The dollar eased against yen on Thursday after President Donald Trump called off plans for renewed U.S. military strikes on Iran at the last minute, saying negotiations with Tehran were heading towards a possible deal.Trump said negotiations with Tehran had advanced to the highest levels of Iran's leadership and a dealhad been approved by a broad coalition of regional powers.Earlier in the day, Trump had said that theU.S. would hit Iran "very hard tonight" and that he wanted at some point to take Iran's oil infrastructure hub Kharg Island, after a second day of strikes by both sides in the Gulf appeared to threaten a return to all-out war. The Bank of Japan meets next week and is expected to hike rates, although Governor Kazuo Ueda has been hospitalized for medical treatment and will miss the June 15 to 16 policy meeting. Immediate resistance can be seen at 160.85(23.6%fib) an upside break can trigger rise towards 161.06(Higher BB) .On the downside, immediate support is seen at 159.68(SMA 20) a break below could take the pair towards 159.00(Psychological level).
Equities Recap
European shares ended higher on Thursday, breaking a four-day losing streak as investors brushed off escalating Trump rhetoric and reacted to the ECB’s interest rate hike.
UK's benchmark FTSE 100 closed up by 0.48 percent, Germany's Dax ended up by 0.06 percent, France’s CAC finished the day up by 0.48 percent.
U.S. stocks closed sharply higher on Thursday after Trump called off planned strikes on Iran, with additional support from anticipation around SpaceX’s market debut..
Dow Jones closed up by 1.86% percent, S&P 500 closed up by 1.75 % percent, Nasdaq settled up by 2.54% percent.
Commodities Recap
Gold prices rose 2% on Thursday as U.S. President Donald Trump canceled planned strikes on Iran, easing fears of oil-driven inflation and the prospect of higher interest rates..
Spot gold jumped 2% to $4,153.71 per ounce at 2:00 p.m. ET (1800 GMT), after hitting its lowest point since late November earlier in the session.
Oil prices settled lower on Thursday after U.S. President Donald Trump cancelled planned strikes on Iran, easing supply disruption fears and raising hopes of progress toward a potential peace deal that could end more than three months of conflict.
Brent futures fell $2.72, or 2.9%, to settle at $90.38 a barrel. U.S. West Texas Intermediate (WTI) crude futures fell $2.32, or 2.6%, to settle at $87.71 a barrel.
